Alta Equipment Group Inc. (NYSE:ALTG) Major Shareholder Sells $71,372.41 in Stock

Alta Equipment Group Inc. (NYSE:ALTG) major shareholder Voss Capital, Lp sold 11,311 shares of Alta Equipment Group stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $6.31, for a total transaction of $71,372.41. Following the completion of the sale, the insider now owns 963,689 shares in the company, valued at approximately $6,080,877.59. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Alta Equipment Group Stock Up 1.5 %

NYSE:ALTG opened at $6.60 on Monday. The company has a debt-to-equity ratio of 5.81, a current ratio of 1.37 and a quick ratio of 0.47. The firm’s 50-day moving average price is $6.38 and its 200-day moving average price is $8.11. The company has a market capitalization of $218.39 million, a PE ratio of -10.31 and a beta of 1.67. Alta Equipment Group Inc. has a 1-year low of $5.40 and a 1-year high of $13.67.

Alta Equipment Group (NYSE:ALTG) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.34). Alta Equipment Group had a negative return on equity of 13.09% and a negative net margin of 0.95%. The business had revenue of $488.10 million during the quarter, compared to analysts’ expectations of $497.57 million. During the same quarter last year, the company posted $0.16 EPS. On average, equities analysts predict that Alta Equipment Group Inc. will post -1.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALTG. GSA Capital Partners LLP increased its holdings in shares of Alta Equipment Group by 30.8% during the first quarter. GSA Capital Partners LLP now owns 52,566 shares of the company’s stock valued at $681,000 after acquiring an additional 12,371 shares in the last quarter. Essex Investment Management Co. LLC grew its position in Alta Equipment Group by 1.5% during the 1st quarter. Essex Investment Management Co. LLC now owns 166,831 shares of the company’s stock valued at $2,160,000 after purchasing an additional 2,517 shares during the last quarter. Quantbot Technologies LP increased its stake in Alta Equipment Group by 67.7% during the 1st quarter. Quantbot Technologies LP now owns 15,736 shares of the company’s stock valued at $204,000 after purchasing an additional 6,355 shares in the last quarter. Quantum Private Wealth LLC raised its holdings in Alta Equipment Group by 18.1% in the first quarter. Quantum Private Wealth LLC now owns 88,080 shares of the company’s stock worth $1,141,000 after buying an additional 13,500 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of Alta Equipment Group by 38.3% in the first quarter. Russell Investments Group Ltd. now owns 191,063 shares of the company’s stock worth $2,474,000 after buying an additional 52,896 shares in the last quarter. Institutional investors own 73.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. DA Davidson cut their target price on shares of Alta Equipment Group from $20.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Raymond James reiterated a “market perform” rating and set a $10.00 target price (down previously from $14.00) on shares of Alta Equipment Group in a report on Friday, August 9th.

About Alta Equipment Group

Alta Equipment Group Inc owns and operates integrated equipment dealership platforms in the United States. It operates through three segments: Material Handling, Construction Equipment, and Master Distribution. The company operates a branch network that sells, rents, and provides parts and service support for various categories of specialized equipment, including lift trucks and other material handling equipment, heavy and compact earthmoving equipment, crushing and screening equipment, environmental processing equipment, cranes and aerial work platforms, paving and asphalt equipment, and other construction equipment and related products.